Definition of Generation Y

What does the term "Generation Y" mean? What is the definition of the term "Generation Y"?

"Generation Y" refers to the generation of people that were born between the early '80s and the early '00s. "Generation Y" is the first generation born after "Generation X", and the second generation after the "Baby Boomers".

Some members of "Generation Y" have "Baby Boomers" (those born between 1945 and 1961) as parents, while some members have "Generation X" parents (Generation X consists of people who were born between the early '60s and the early '80s).

"Generation Y" has witnessed the surge in Internet and cell phone use, as well as the explosion in the use of social media, amongst other things.

"Generation Y" has arguably been the hardest hit by the "Great Recession", as school has gotten more expensive and competitive, and jobs have become much harder to come by. The impact of the "Great Recession" amongst European members of "Generation Y" has been especially pronounced - some European countries have youth unemployment rates of over 50% at the moment.

Barring an unexpectedly strong economic recovery that sweeps across the world, "Generation Y" stands to be significantly worse off than both the "Baby Boomers" and "Generation X".

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